MAREQUE: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
MAREQUE
Largest movements
- Receivables within one year +€11,556
up €11,556 (+199.9%), from €5,780 to €17,335
- Cash +€9,097
up €9,097 (+178.4%), from €5,098 to €14,195
mainly Net result for the year (+€27,054) and Depreciation (+€6,813)
- Tangible fixed assets -€6,813
down €6,813 (-9.1%), from €74,859 to €68,046
of which Land and buildings: -€6,479
- Deferred charges and accrued income +€5,547
up €5,547 (+99.0%), from €5,606 to €11,153
- Reserves +€27,054
up €27,054 (+18.1%), from €149,500 to €176,555
of which Distributable reserves: +€27,054
- Debts after one year -€11,816
down €11,816 (-38.8%), from €30,428 to €18,611
- Tax, wage and social debts +€5,345
up €5,345 (+138.4%), from €3,861 to €9,205
- Gross operating margin +€26,869
up €26,869 (+111.6%), from €24,078 to €50,947
- Taxes +€11,058
up €11,058 (+266.6%), from €4,147 to €15,205
- Financial charges -€600
down €600 (-21.0%), from €2,852 to €2,252
- Financial income +€533
up €533 (+26.0%), from €2,053 to €2,586
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €241,993 | €263,376 | +€21,383 | +8.8% |
| Formation expenses | 20 | €0 | €0 | = | |
| Fixed assets | 21/28 | €74,859 | €68,046 | -€6,813 | -9.1% |
| Intangible fixed assets | 21 | €0 | €0 | = | |
| Tangible fixed assets | 22/27 | €74,859 | €68,046 | -€6,813 | -9.1% |
| Land and buildings | 22 | €73,797 | €67,319 | -€6,479 | -8.8% |
| Furniture and vehicles | 24 | €1,062 | €728 | -€334 | -31.5% |
| Current assets | 29/58 | €167,134 | €195,329 | +€28,195 | +16.9% |
| Amounts receivable after more than one year | 29 | €150,650 | €152,646 | +€1,996 | +1.3% |
| Other amounts receivable | 291 | €150,650 | €152,646 | +€1,996 | +1.3% |
| Amounts receivable within one year | 40/41 | €5,780 | €17,335 | +€11,556 | +199.9% |
| Other amounts receivable | 41 | €5,780 | €17,335 | +€11,556 | +199.9% |
| Cash at bank and in hand | 54/58 | €5,098 | €14,195 | +€9,097 | +178.4% |
| Deferred charges and accrued income | 490/1 | €5,606 | €11,153 | +€5,547 | +99.0% |
| Total equity and liabilities | 10/49 | €241,993 | €263,376 | +€21,383 | +8.8% |
| Equity | 10/15 | €188,149 | €215,204 | +€27,054 | +14.4% |
| Contributions | 10/11 | €12,400 | €12,400 | = | 0.0% |
| Reserves | 13 | €149,500 | €176,555 | +€27,054 | +18.1% |
| Non-distributable reserves | 130/1 | €0 | - | = | |
| Reserves not available under the articles | 1311 | €0 | - | = | |
| Distributable reserves | 133 | €149,500 | €176,555 | +€27,054 | +18.1% |
| Profit (loss) carried forward | 14 | €26,249 | €26,249 | = | 0.0% |
| Amounts payable | 17/49 | €53,843 | €48,172 | -€5,672 | -10.5% |
| Amounts payable after more than one year | 17 | €30,428 | €18,611 | -€11,816 | -38.8% |
| Financial debts | 170/4 | €30,428 | €18,611 | -€11,816 | -38.8% |
| Amounts payable within one year | 42/48 | €23,416 | €29,022 | +€5,606 | +23.9% |
| Current portion of amounts payable after more than one year | 42 | €19,365 | €19,816 | +€452 | +2.3% |
| Trade debts | 44 | €191 | €0 | -€191 | -100.0% |
| Suppliers | 440/4 | €191 | - | -€191 | |
| Taxes, remuneration and social security | 45 | €3,861 | €9,205 | +€5,345 | +138.4% |
| Taxes | 450/3 | €3,861 | €9,205 | +€5,345 | +138.4% |
| Other amounts payable | 47/48 | €0 | - | = | |
| Accrued charges and deferred income | 492/3 | - | €539 | +€539 | |
| Turnover | 70 | €0 | - | = | |
| Goods, raw materials, services and sundry goods | 60/61 | €0 | - | = | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,848 | €6,813 | -€35 | -0.5% |
| Other operating charges | 640/8 | €2,000 | €2,209 | +€209 | +10.5% |
| Gross operating margin | 9900 | €24,078 | €50,947 | +€26,869 | +111.6% |
| Operating profit (loss) | 9901 | €15,231 | €41,926 | +€26,695 | +175.3% |
| Financial income | 75/76B | €2,053 | €2,586 | +€533 | +26.0% |
| Recurring financial income | 75 | €2,053 | €2,586 | +€533 | +26.0% |
| Financial charges | 65/66B | €2,852 | €2,252 | -€600 | -21.0% |
| Recurring financial charges | 65 | €2,852 | €2,252 | -€600 | -21.0% |
| Profit (loss) for the period before taxes | 9903 | €14,432 | €42,260 | +€27,828 | +192.8% |
| Income taxes | 67/77 | €4,147 | €15,205 | +€11,058 | +266.6% |
| Profit (loss) for the period | 9904 | €10,284 | €27,054 | +€16,770 | +163.1% |
| Profit (loss) for the period to be appropriated | 9905 | €10,284 | €27,054 | +€16,770 | +163.1% |
Source: filed annual accounts (NBB), financial years ended 31 March 2024 and 31 March 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 9 October 2026 via checked.be.